Form 4: Domo Executive Daren Thayne Sells Shares to Cover Tax Obligations

Domo's CTO & EVP of Product, Daren Thayne, sold shares of Class B Common Stock to cover tax obligations arising from vested restricted stock units.

Summary

• Daren Thayne, CTO & EVP of Product at Domo, Inc., reported changes in beneficial ownership of the company's Class B Common Stock.
• On March 20, 2024, Thayne acquired 25,417 shares through restricted stock units (RSUs).
• These RSUs represent the right to receive one share of Class B Common Stock each, subject to a vesting schedule.
• Thayne sold 41,218 shares on March 21, 2024, at a weighted average price of $9.331 per share.
• An additional 2,866 shares were sold on March 22, 2024, at a weighted average price of $9.5913 per share.
• These sales were intended to cover the taxable obligation due on restricted stock units that vested on March 20, 2024.
• Following these transactions, Thayne directly owns 365,958 shares of Class B Common Stock and indirectly owns 103,552 shares through the DAREN AND SHARISA THAYNE FAMILY, LLC.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sentiment is neutral as it reflects necessary actions to cover tax obligations.

Industry Context

Insider trading activity is always closely watched by investors as it can provide signals about management's view of the company's prospects. In this case, the sale appears to be related to covering tax obligations, which is a common reason for executives to sell shares.

Stakeholder Impact

• The sale of shares by a company executive could have a minor impact on shareholder sentiment.

Key Dates